An old scam, becoming more automated and more common
A variation of dusting scams involves scammers creating wallet addresses that closely resemble the beginning and ending characters of legitimate addresses frequently used by a targeted wallet owner. The goal is to confuse the user into mistakenly sending funds to the wrong address during unrelated transactions. Here’s how this scam works: How the Scam Works 1. Creating Similar Addresses Scammers generate wallet addresses that mimic the structure of legitimate addresses the user has previously interacted with. They focus on replicating the first and last few characters, as these are the parts users often rely on for verification. 2. Sending Dust Transactions Small, seemingly insignificant amounts of cryptocurrency (dust) are sent from these fake addresses to the victim’s wallet. This populates the wallet’s transaction history with the scammer’s deceptive address. 3. Manipulating Future Transactions When the user later tries to send funds to a familiar address, they may mistakenly select or copy the scammer’s look-alike address from their transaction history, unknowingly transferring funds to the scammer instead of the intended recipient.
Recognizing the Scam 1. Unfamiliar Transactions Watch for small, unexpected transactions, especially from addresses that look similar to those you regularly interact with. 2. Partial Address Matches Scammers rely on the fact that many users only check the first and last few characters of a wallet address for verification. Always examine the entire address closely. 3. Suspicious Patterns If you notice a series of transactions with similar but slightly altered addresses in your history, it could indicate a dusting scam.
How to Protect Yourself 1. Use Address Book Features Many wallets allow you to save frequently used addresses. Use this feature to avoid relying on past transactions to find addresses. 2. Verify Entire Addresses Before sending funds, double-check the full address, not just the first and last few characters. 3. Be Wary of Recent Transactions Avoid blindly copying addresses from your transaction history, especially if they were part of unsolicited deposits. 4. Manually Manage Important Addresses Keep a secure list of verified addresses you regularly transact with to avoid selecting the wrong one.
By paying close attention to transaction details and practicing careful verification, you can protect yourself from these scams that exploit small lapses in attention to misdirect funds.
“The Next Big Move: POL Poised for a Breakout to $3!”
With its pivotal role in the Polygon 2.0 upgrade and extremely low transaction fees averaging fractions of a cent, POL is emerging as one of the most promising tokens in the crypto space. These ultra-low fees make Polygon the go-to choice for developers, enterprises, and users looking for scalability without breaking the bank.
Analysts are increasingly optimistic, citing the potential for POL to surge to $3 in the near future, fueled by its affordability, increased staking rewards, new partnerships, and growing transaction volumes. With a strong foundation and real-world use cases, POL offers an unparalleled opportunity for early investors to ride the wave of innovation and growth.
As much of the “analysts” are attributing the current downtrend to the war going on, its not true. Yes the war might have been the trigger but the bull run has ended already a couple weeks back.
Check my previous post on my profile from march to see my prediction based on previous market experiences.
If you have already sold in fear of price drop here is how to reinvest your revenue before the halving.
Lets say you have 1 BTC and you sold at 72000. You buy 0.1BTC at 62k, 0.2 BTC at 58k, 0.3 at 50k, 0.4BTC at 45000.
By doing this you will have your 1 BTC again at average of 50,800 plus extra 21,200 you can increase your total BTC if it goes further down or starts pumping.
Welcome to Binance OTC! Reach out to us at trading@binance.com, via Telegram (@binanceOTCTrading), or visit https://www.binance.com/en/otc for more information.